TANAP gets signed.
Turkmenistan has signed an outline deal with Turkey to supply gas to a new pipeline that could help Europe reduce its dependence on Russian gas imports. The two countries struck a so-called framework agreement yesterday for Turkmenistan, which is keen to diversify exports of its gas to world markets, to supply gas to the proposed Trans-Anatolian natural gas pipeline project (TANAP). The pipeline will be built from the Turkish-Georgian border to Turkey’s frontier with Bulgaria and Greece.
350 million euros. That happened during a meeting in Brussels on Thursday. In September, the eurozone nations refused to release the cash, saying Cyprus may have run afoul of the terms of its 10-billion-euro rescue package when Parliament weakened a foreclosures law that was deemed crucial for banks to deal with many bad loans. The hurdle was overcome after lawmakers amended some laws, while the Supreme Court struck down others as unconstitutional. Finance Minister Harris Georgiades said on Thursday that it is essential to avoid “unnecessary actions” that could hobble the Cypriot economy’s efforts to return to growth.
Property prices in Cyprus declined by up to 9.6 percent on an annual basis in the third quarter, surveyors said on Thursday, with demand sapped by a lack of bank credit and high unemployment. On an annual basis, asking prices for retail space at the end of September fell by 9.6 percent, while for apartments they dropped 6.3 percent and for homes 4.4 percent, an index compiled by the Cyprus branch of the Royal Institution of Chartered Surveyors (RICS) showed.